Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC reduced its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTCFree Report) by 28.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,240 shares of the company’s stock after selling 1,720 shares during the period. Synergy Asset Management LLC’s holdings in Grayscale Bitcoin Trust were worth $226,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GBTC. Optimum Investment Advisors acquired a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth approximately $95,000. BOKF NA acquired a new stake in Grayscale Bitcoin Trust during the first quarter worth $57,000. SeaCrest Wealth Management LLC purchased a new stake in Grayscale Bitcoin Trust in the first quarter valued at $370,000. Opal Wealth Advisors LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at $262,000. Finally, Level Financial Advisors purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth $255,000.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA:GBTC traded up $0.04 during midday trading on Friday, reaching $44.70. 324,484 shares of the company’s stock were exchanged, compared to its average volume of 10,544,601. The stock has a market cap of $22.83 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a fifty-two week low of $18.04 and a fifty-two week high of $65.61. The firm’s 50 day simple moving average is $51.07 and its two-hundred day simple moving average is $55.59.

About Grayscale Bitcoin Trust

(Free Report)

The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of bitcoin (BTC). An investment in the fund is not a direct investment in bitcoin. GBTC was launched on Jan 11, 2024 and is issued by Grayscale.

Further Reading

Institutional Ownership by Quarter for Grayscale Bitcoin Trust (NYSEARCA:GBTC)

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